Suppose the price of a ticket to a Lenny Kravitz concert is $41 and at that price, the quantity of tickets demanded is 17,000 per concert
Using the midpoint method of calculating percentage changes, if
Mr. Kravitz raises the price to $48 and the quantity demanded decreases to 16,000, the price elasticity of demand for his concert tickets is
A) 15.73.
B) 6.06.
C) 1.00.
D) 0.39.
E) 0.93.
D
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Former Alabama Governor George Wallace ran for president several times, once as a third-party candidate in 1968. Wallace claimed there was "not a dime's worth of difference" between the Democratic and Republican parties during one of his campaig
How does Wallace's comment relate to the median voter theorem?
During the colonial period,
(a) both men and women married on average during their teenage years. (b) women married on average during their teenage years and men during their early 20s. (c) both men and women married on average at ages between 20 and 25. (d) both men and women married on average during their late 20s.